Developer Sean Phelan bought a riverside office in Wauwatosa’s village area with potential plans to convert it into a restaurant.

Also this week, hotel management firm IDM Group LLC is trying to revitalize a Lake Geneva resort that fell into legal troubles last year.

The Wauwatosa building is unique because it stands on stilts and extends over the Menomonee River, a setup state law likely would prohibit for a new building. It is on the north bank of the river at West Menomonee River Parkway and Underwood Avenue.

Mark Rowbottom, owner of Rowbottom Partners who sold the property, said he has worked in the building since 1989. Since that time, the neighborhood has changed around him. It is now a thriving restaurant area with Cafe Hollander, the Chancery and Ristorante Bartolotta, among others.

“There was nothing down here when I moved in,” Rowbottom said. “It’s transitioned so much. You used to be able to park wherever you wanted down here.”

Rowbottom sold the building for $565,000 to a company controlled by Sean Phelan, of Milwaukee-based Phelan Development, according to state records.

Phelan said restaurants have expressed interest in moving into the building, but he is still finalizing plans for it.

“It’s one of the most walkable little commercial districts we have in the area and the people in Wauwatosa really embrace it,” Phelan said. “I think the village has a very unique feel to it. You feel like you are in a little European town.”

Rowbottom said he has been approached by many restaurants over the years, including World of Beer, Subway and Tilted Kilt. However, the lack of a basement in the building has challenged projects. He said he decided to sell it because the complexity of a renovation calls for a real estate pro such as Phelan.

Reporter Sean Ryan covers commercial and residential real estate for the Milwaukee Business Journal and through the Real Estate Roundup blog on the website. He also covers construction, highways and public transit.

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